— To help more efficiently and effectively administer taxes on behalf of its constituents, the State of Vermont has selected Oracle(R) Enterprise Taxation Management.

— Oracle also announced the availability of version 2.1.5 of Oracle Enterprise Taxation Management. The application provides public sector tax authorities with a flexible, standards-based solution for managing the core functions of revenue and tax administration. The latest version features several new capabilities including enhanced calculation configuration capabilities for more flexible development of tax, interest and other values, as well as expanded Web services capabilities.

— The State of Vermont will work with Oracle and CGI to provide a single integrated tax and audit-processing platform for five tax types — corporate income, business income, property transfer, individual use and fuel gross receipts. Through the deployment, the state expects to realize operational benefits by leveraging a single, modern technology infrastructure for tax processing — built on Oracle Database and Oracle Application Server.

Oracle Enterprise Taxation Management Version 2.1.5 Details

— Oracle Enterprise Taxation Management provides a flexible and cost-effective alternative to custom-built systems that are expensive to maintain and difficult to adapt to new tax laws and regulations.

— It provides a single, unified view of each taxpayer by consolidating information from multiple legacy systems across all tax and revenue sources, enabling agencies to more efficiently and effectively bill, collect and manage funds. The application helps improve revenue generation, tracking and compliance.

— The next version includes the following features:

— Enhanced calculation configuration capabilities for more flexible development of tax, penalty, interest and other calculated assessment values

— "We selected the Oracle solution supported by CGI because of both companies' solid reputations in the public sector industry," said Tom Pelham, Commissioner, State of Vermont Department of Taxes. "We look forward to recognizing a quick return on our investment with more efficient and effective tax management."

— "As new tax laws and regulations impact our industry across the globe, Oracle is at the forefront of helping to deliver the flexibility and cost savings agencies need to remain successful under these terms," said John Andrus, vice president and general manager, Oracle Tax Global Business Unit, Oracle.